This is a very interesting question. Many people think that at a certain age or a life event like retirement is the right time to get a will. I strongly disagree. People need to change their mindset about their estate. I guarantee if you open the newspaper today and turn to the obituaries, you will find someone younger than you in there.
There are many reasons why you need a will as a young person. The absolute drop dead date (no pun intended) is when you are aware that you may become a parent. Nothing in my practice is more heartbreaking than talking with families and a judge had to decide who was to raise minor children. It is your responsibility as a parent to make sure that the children you bring into this world are going to be raised by the right people if you are longer here to do it yourself. Besides, I highly doubt many people would want their children to inherit a large amount of money when they turn 18 years of age.
As far as UPDATING your will, I agree with most people that it should be looked at after major changes in your life....marriage, divorce, death of a spouse or child, grandchildren, large inheritances, retirement, moving to a new state or change in health. Any and all of these should prompt a change.
Makre sure you get your power of attorney papers reviewed regularly as well as that form changes as governed by the Commonwealth of Pennsylvania.
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